S&P downgrades Alberta’s credit rating
May 26, 2017 | 3:53 PM
EDMONTON — Alberta’ s credit rating has been downgraded once again.
Standard and Poor’s Global Ratings has lowered the province’s credit rating from an AA level to A-plus, citing growing deficits and high debts incurred by Alberta.
The province has projected a deficit of $10.3 billion this year, and the provincial debt is projected to climb to $71.1 billion by 2020.
The downgrade in the credit rating raises the cost of borrowing by the government.